You Don't Own Web3 • Hacker News Board

Re: You Don't Own Web3

#11

Post by unmole » Tue, Dec 21, 2021, 9:42 AM UTC

DyslexicAtheist wrote: post #8

if Web3 were such a success they would cease talking about the future and simply show us _the_ killer app that everyone would immediately jump to. The "Web2" would be an empty space pretty soon. Yet it hasn't happened despite over a decade of hot-air, big techno-gobble-dygook and made up words invented to dazzle an ignorant audience. But there is no such thing as a killer feature that can't be done better with what w…

> if Web3 were such a success they would cease talking about the future and simply show us _the_ killer app that everyone would immediately jump to.

Or, in the immortal words of Linus Torvalds, "Talk is cheap. Show me the code."

Re: You Don't Own Web3

#12

Post by delnabla » Tue, Dec 21, 2021, 9:43 AM UTC

starklevnertz wrote: post #6

Can someone explain what is meant by this?

Most of the "web3 VC's" with NFT avis and .eth handles (see Chris Dixon) are obnoxiously tweeting about how "web2" sucks and that you don't have any ownership in it whereas "web3" is a decentralized utopia where you own every single piece of information about yourself and have the ultimate freedom to do anything.

Re: You Don't Own Web3

#13

Post by tata71 » Tue, Dec 21, 2021, 9:55 AM UTC

unmole wrote: post #9

jjordan wrote: post #3

Jack is what we lovingly refer to as a Bitcoin maximalist. They are unmoved by innovations that happen outside of the Bitcoin project and tend to call everything that isn't Bitcoin centralized garbage.

> Jack is what we lovingly refer to as a Bitcoin maximalist. What is a not so loving term?

Objectively?

"Dinosaur coin lover"

Re: You Don't Own Web3

#14

Post by DyslexicAtheist » Tue, Dec 21, 2021, 9:57 AM UTC

DyslexicAtheist wrote: post #8

if Web3 were such a success they would cease talking about the future and simply show us _the_ killer app that everyone would immediately jump to. The "Web2" would be an empty space pretty soon. Yet it hasn't happened despite over a decade of hot-air, big techno-gobble-dygook and made up words invented to dazzle an ignorant audience. But there is no such thing as a killer feature that can't be done better with what w…

[off topic] addendum[1]:

A software engineer sits in a bar with a no-coiner and a socialist. A genie appears granting them a wish each.

The no-coiner wishes for all crypto & crypto-bros to be gone. His wish is granted. Nobody mentions crypto any more. The no-coiner drinks up and staggers home happy.

The socialist demands for all the billionaires to pay their taxes. His wish is granted and there are no more billionaires.

Finally the genie turns to the software engineer: "and what is your wish?"

The software engineer thinks for a while then says:

"So you're telling me all the billionaires are gone because everyone started paying taxes?", "Yepp" the genie replies.

You're also telling me that all #crypto bros are gone and nobody anymore talks about crypto, #NFT's or #blockchain? "Yepp" the genie goes again.

Software engineer turns to the barman and says:

"Well I guess I'll have a coke then".

[1] https://twitter.com/phishermensfoe/status/147322937195572019...

Re: You Don't Own Web3

#15

Post by DyslexicAtheist » Tue, Dec 21, 2021, 10:03 AM UTC

unmole wrote: post #11

DyslexicAtheist wrote: post #8

if Web3 were such a success they would cease talking about the future and simply show us _the_ killer app that everyone would immediately jump to. The "Web2" would be an empty space pretty soon. Yet it hasn't happened despite over a decade of hot-air, big techno-gobble-dygook and made up words invented to dazzle an ignorant audience. But there is no such thing as a killer feature that can't be done better with what w…

> if Web3 were such a success they would cease talking about the future and simply show us _the_ killer app that everyone would immediately jump to. Or, in the immortal words of Linus Torvalds, "Talk is cheap. Show me the code."

> "Talk is cheap. Show me the code."

this is such an important razor[1]:

denouncing NFTs is good and honorable

here are some tips to help you on your scam-prevention journey: - 'power usage/environment' is a trap, people will goalpost move you on about proof of stake. - try to focus on what they do, which is nothing, but badly, while scamming

[1] https://twitter.com/chhopsky/status/1468658745819287556

Re: You Don't Own Web3

#16

Post by rvz » Tue, Dec 21, 2021, 10:12 AM UTC

jjordan wrote: post #3

Jack is what we lovingly refer to as a Bitcoin maximalist. They are unmoved by innovations that happen outside of the Bitcoin project and tend to call everything that isn't Bitcoin centralized garbage.

There you go. Ethereum maximalists will do anything to pump their investments up by screeching 'web3', 'NFTs' and 'DAOs' and Bitcoin maximalists will also do the same thing.

Well I ask both of these maxis, can I use either of them to pay for my groceries quickly, efficiently and cheaply without overpaying for the fees and using a complicated contraptions?

If it still doesn't make sense to buy popcorn with bitcoin [0] then what hope is there to be better than Apple / Google Pay and everything else with payments?

[0] https://ambcrypto.com/is-it-really-ideal-to-buy-popcorn-with...

Re: You Don't Own Web3

#17

Post by rvz » Tue, Dec 21, 2021, 10:29 AM UTC

DyslexicAtheist wrote: post #8

if Web3 were such a success they would cease talking about the future and simply show us _the_ killer app that everyone would immediately jump to. The "Web2" would be an empty space pretty soon. Yet it hasn't happened despite over a decade of hot-air, big techno-gobble-dygook and made up words invented to dazzle an ignorant audience. But there is no such thing as a killer feature that can't be done better with what w…

Exactly. Most of all these cryptocurrencies have failed and they will not survive regulations if they were to come in.

> there are very few applications where blockchains make sense (e-sports and games, the SWIFT banking "backend"). Yet even for those a central database is a better technological, and business fit than coins and blockchains while also not being as environmentally damaging.

The banks will just use Central Bank Digital Currencies (CBDCs) instead and will pick either XRP, Stellar, etc to use for that purpose.

Re: You Don't Own Web3

#18

Post by seumars » Tue, Dec 21, 2021, 10:44 AM UTC

I feel like the only people who take the idea of web3 seriously are those who like to tweet about it.

Re: You Don't Own Web3

#19

Post by bko » Tue, Dec 21, 2021, 11:49 AM UTC

DyslexicAtheist wrote: post #8

if Web3 were such a success they would cease talking about the future and simply show us _the_ killer app that everyone would immediately jump to. The "Web2" would be an empty space pretty soon. Yet it hasn't happened despite over a decade of hot-air, big techno-gobble-dygook and made up words invented to dazzle an ignorant audience. But there is no such thing as a killer feature that can't be done better with what w…

> But there is no such thing as a killer feature that can't be done better with what we have

When someone figures out how to custody financial assets on the blockchain (e.g. stocks, bonds, etc), then you can create exchanges that aren't regulated and are open 24-7. You can also create contracts that mimic synthetic derivatives.

Sure you may not like the idea but you don't have to use those exchanges. And sure things could blow up for some people, but if done correctly you wouldn't have counterparty risk and no cascading series of failures. And there would be much less appetite for bailouts if things do explode due to the murky legality and pseudonymity.

The legal and regulatory framework prevents financial innovation. Could it be done better offchain? Sure, just completely rewrite the laws

Re: You Don't Own Web3

#20

Post by laputan_machine » Tue, Dec 21, 2021, 12:38 PM UTC

Can someone explain to me what even "Web3" means? It seems like a nonsense buzzword. I mean "Web 2.0" meant ajax, right? And even then it's a silly difference to make, like calling every new addition to the ECMAscript standard a new version of the web...